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Dollar gets some strength to compensate some losses after retail sales disappointment

the USD/JPY is still in a down trend on 4-hour chart. First support lies at the area between 116.06yen &115.56yen; second support is 114.63yen and the main support lies at 112.65yen.The recent price peak found resistance at the middle boundary of the Bollinger bands which confirms the price weakness. The RSI indicator failed to reach its middle line which signals more losses. The CCI indicator broke down its zero level which is also a sign of weakness. On the upside, if the pair manages to break up its previous peak 117.93yen, it will face next resistance at the area between 118.84yen & 119.95yen and the main resistance stands at the area between 120.73yen &121.00yen.


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Amana Capital Group is a Financial Services Group specialized in providing brokerage services in international financial markets namely currencies, commodities, and stock indices. The Group operates several entities regulated and authorized by reputable regulatory bodies.

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